Assembly Constitutional Amendment No 40. Adds Section 16 to Article XVI of Constitution. Authorizes issue and sale of one hundred fifty million dollars ($150,000,000) in state bonds to provide funds to be used by State Department of Veterans Affairs in accordance with Veterans Farm and Home Purchase Act of 1943 in assisting California war veterans to acquire farms and homes. Brings into operation and validates Veterans Bond Act of 1951, governing issue, sale and redemption of such bonds.
Popular Vote Results
Y: 3825825; A: 85.7; N: 637765; B: 14.3
Assembly Constitutional Amendment
Code Sections Affected
Added Cal. Const. art. XVI, section 16.
Sam L. Collins, Speaker of the Assembly, Orange County; Richard H. McCollister, Assemblyman, Chairman of Committee on Military Affairs, Marin and Sonoma Counties; Nelson S. Dilworth, State Senator, Riverside County
VETERANS FARM AND HOME BONDS California Proposition 1 (1952).